Page 78 - Mansfieldr FY20 Approved Budget

General Fund Revenue Composition
2019-2020 Budget

Permits Transfers
Fines & Fees 3% 3% Other
4%
3%
Franchise Tax
10%

Sales Tax
19% Property Tax
58%

Property Tax Revenue

Property tax accounts for approximately 58% of all revenue in the General Fund. Property tax revenue is
budgeted at $39,607,046 in FY 2019-2020, an increase of 14.5% or $5,016,259 over the FY 2018-2019
budget. The increase in property tax is from an increase in existing and new property valuations as well as
new growth. New construction activity in FY 2019-2020 is anticipated to increase as economic conditions
improve and commercial and retail developments increase. Property tax estimates are based on the
valuation of real and personal property within the City of Mansfield. In 2019 the average residential home
increased in value approximately 7%. New construction in 2019 was approximately $419,841,585.

Property Value

12%
10%

8%
6%
4%
2%
0%
-2% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

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